Question
Bridgeport Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $310,000. The Johnson Divisions net assets, including the goodwill, have
Bridgeport Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $310,000. The Johnson Divisions net assets, including the goodwill, have a carrying amount of $620,000. The fair value of the division is estimated to be $830,000. Prepare Bridgeport journal entry to record impairment of the goodwill.
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Sound Investing, Chapter 7 - Cash Versus Accrual
Authors: Kate Mooney
1st Edition
0071719296, 9780071719292
